Lithuanian company Apex Alliance has bought the building of the former Marmorosch Blank bank in Bucharest’s Old Town. The developer wants to turn the building into a hotel, local Profit.ro reported.
The property is located next to Romania’s National Bank (BNR) headquarters and close to the Hilton Garden Inn hotel that Apex Alliance opened last year in another renovated historic building.
The building hosted one of the biggest banks in Romania in the early 20th century. The bank was liquidated in 1948 and the building was bought by local lender BRD in 2004, which then sold it to local firm Doamnei Imobiliare, in 2007. The central bank claimed ownership of the building but lost the lawsuit in 2014.
Apex Alliance plans to develop several hotels in Bucharest. It also has a Courtyard by Marriott hotel under development in Northern Bucharest.